If the demand for a life-saving drug was perfectly inelastic and the price doubled, the quantity demanded would

Which statement holds true for the period of slavery in U.S. history?

(a) Slavery was a moral institution. (b) The system wasted natural resources. (c) It provided slaveholders with incentives to avoid purchasing farm implements. (d) It developed land and profitably produced agricultural goods for sale in world markets.

For a typical consumer, indifference curves can intersect if they satisfy the property of transitivity

a. True b. False Indicate whether the statement is true or false